WTW

In an interview, the new Gallagher Re CEO noted that his former company had been weighed down by nearly two years of uncertainty, telling this publication: “That stops today.”

The group CEO also observed that the Big Three reinsurance brokers do have a competitive moat based on their scale.

The deal was struck in the wake of the collapse of Aon and Willis Towers Watson’s merger.

Pizzi will take over the position that has remained open since Nancy Woode left Willis to join McGill and Partners last April.

Willis is accusing its blue-chip rival of conspiring with its former employees to pilfer some of its reinsurance brokerage clients in Florida, causing “irreparable harm".

Insurance carriers tend to favor a negative outlook during their earnings calls, even when its unwarranted.

Increasing cat costs will drive the focus on modelling and price adequacy, the intermediary said.

Willis Towers Watson has selected Inga Beale, Fumbi Chima, Michael Hammond and Michelle Swanback to join its board of directors.

While Willis predicted market moderation as capacity expands, the report concluded that the cost of insurance in the near term is still going up.

The executive has spent the majority of his 35-year career with Aon.

The executive will also remain his current role as head of Colombia, it is understood.

Positive earnings results point to the firm meeting full-year guidance, but will it hit the 500 points improvement in margin by 2024?